LAPO Microfinance Bank Wins ‘Best MfB of The Year’ Again
For the very fourth time in a row, LAPO Microfinance Bank has again emerged the “Best Microfinance Bank of the Year” at the just concluded 2017 Business Day Annual Banking Awards. It has consistently won same award of excellence annually since 2014.
Speaking on the feat and the company’s consistency over the years, Kunle Shittu, Head, Corporate Communications says, “It is a reflection of our bank’s commitment to the empowerment of low income Nigerians through the provision of responsive and flexible financial services delivered on a sustainable basis.”
Over the years, LAPO Microfinance Bank has demonstrated exponential growth and has evolved into the leading provider of financial services to over 3 million Micro, Small and Medium Enterprises (MSMEs) in Nigeria with a branch network of 447 branches across 31 States of the Federation including FCT, Abuja and 20 branches in Sierra Leone.
Currently, LAPO MfB accounts for 24% of the Credit in the Nigeria Microfinance Industry that has over 900 licensed MfB operators.
In 2006, LAPO MfB won the prestigious Grameen Foundation’s Excellence in Microfinance award with a cash prize of $10,000 and this inspired the Bank to start the LAPO Scholarship Scheme which has in the last ten years given numerous scholarships to 8,140 children of its Clients to support their Secondary education.
With an asset base of over N60 billion and 6,000 professional employees passionate about excellent service delivery, LAPO MfB continues to improve lives across Nigeria with loans, affordable housing, clean energy lending (loans are provided to Clients to buy solar lamps and clean cooking gas cylinders).
LAPO’s success as Nigeria’s foremost Microfinance Bank is attributed to the visionary leadership of its MD/CEO, Dr. Godwin Ehigiamusoe, a foremost Microfinance practitioner who has applied the concept of social enterprise to successfully build a number of enterprises which address the needs of persons and businesses at the bottom end of the society.
Dr. Ehigiamusoe’s business interests span across microfinance, micro-insurance, micro-leasing, healthcare and education.